More proverbial shoes are dropping for Curt Schilling and 38 Studios. After laying off their entire work force last month, Schilling’s video game outfit filed for bankruptcy today. However, in what could be more ominous signs for both Schilling and the company, 38 Studios will also face a federal investigation regarding its finances. From the Boston Herald…

It’s game over for Curt Schilling’s video game company, 38 Studios, which filed for a bankruptcy liquidation today and faces an investigation by federal authorities.

The retired Red Sox pitcher’s Providence-based company filed for Chapter 7 bankruptcy protection in Delaware, listing nearly $151 million in liabilities — including more than $1 million in unpaid wages — and $21.7 million in assets.

The bankruptcy filing follows last month’s financial meltdown and mass layoff of 400 workers as 38 Studios struggled to make payments related to a taxpayer-backed $75 million loan agreement with Rhode Island.

While it awaits to be seen the outcome of the federal investigation, we asked ESPN about Curt Schilling’s status with the network. A couple weeks ago, Andrew noticed that a simple search for Schilling’s name on ESPN.com pulled up no references to the former Red Sox pitcher in his ESPN MLB analyst role since May 14th. In addition, there’s no Schilling biography on the ESPNMediaZone website. However, Schilling appeared on ESPN airwaves June 3rd and will appear again on Baseball Tonight this evening. In a statement today, ESPN told AA, “There’s no change in his status.”

So, while Schilling faces the fallout of 38 Studios, he will continue to appear as an MLB analyst on Baseball Tonight and ESPN airwaves as this story continues to evolve.